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Mar 17, 2017

2017 Best Straightforward Savings Account Rates

These are straightforward savings accounts; that is, no fancy requirements for salary credit, insurance / investment purchase, GIRO transfers, credit card spend, etc. We intentionally left out those accounts that require incremental average daily balance like Standard Chartered bank eSaver.

Just deposit some money into these savings account and start earning high interest. You withdraw your savings anytime you want without penalty of being locked-in like a fixed deposit.

These straightforward savings accounts can be used by those with spare cash after maxing out on the various multi-transaction savings account like OCBC 360, UOB One, DBS Multiplier, BOC Smartsaver, Maybank2u SaveUp , etc.

You may want to note that Singapore Dollar deposits of non-bank depositors are insured by the Singapore Deposits Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law.

So for savings deposits above $50K, the sum deposited will not be insured.